₦airaland Forum

https://www.youtube.com/watch?v=m-LH8cWyLb0

Real estate development revolves around prime locations. Almost every aspect of land for sale can be changed except where’s it’s located. Location determines the price of a property.
For instance, you can have identical buildings, one located at Egbeda and the other located at Banana Island. Both houses built using the same materials and design will command different prices. The house located at Banana Island would cost as much as four times more than the house located at Egbeda.

FACTORS TO CONSIDER IN DETERMINING THE RIGHT LOCATION TO BUY PROPERTY
As an investor, you should always consider the present and the future when making investment decisions. For instance, an area that appears to be of enormous financial value now, might not be the case in the next five years or ten years. Just like a disregarded area now might explode in five years. However, there are several determinant factors like the following:

I. Would there be access to basic amenities on the land for sale?
The concept of sustainable development leans toward the availability of constant electricity, water supply, security, and well-paved roads. Look out for areas that have access to water, electricity supply and security. All these are the basis for economic growth without which, sustainable growth may be limited. Long-term real-estate developments are directly associated with and dependent on the availability of these variables.

II. What is the predominant social class in the area?
The value of land for sale is correlated with the social class of people living within the area. Going back to our comparison of Egbeda and Banana Island: Egbeda is predominantly made up of low to middle-class income earners while Banana Island is inhabited by predominantly high-income earners. This social and economic disparity influences the price of both properties. In urban areas, town planning decisions largely depend on ‘who’s’ moving into or living in the area. As minimal as it sounds, it is extremely important to consider who your ‘neighbour’ is when buying land.

III. Is it close to major roads?
Access to the land via paved road is crucial. When it comes to buying land, convenience is everything. Areas located close to a major highway invariably attract sustainable development and thus high ROI on real-estate investments.

IV. What is the official title on the land?
Even if a plot of land possesses all the above factors, if the land for sale doesn’t have a valid land titles, it’s best to avoid the land for sale. There are different land titles and each land title influences the price and ownership status of a property.
For instance, two plots of land located in the same region will command two different prices if they have different land titles. Suppose the first plot of land title is excision in process and the second plot has a C of O. The second plot would likely cost twice and in some cases three times the price of the first land. The reason is, a C of O land title guarantees ownership and secures real-estate investments.

V. What is the ultimate deal for you?
Every once in a while, a fantastic opportunity for real estate investing like the Ibeju-Lekki area presents itself. Ibeju-Lekki has attracted massive industrial investments like the Dangote Refinery, The Deep Seaport, The New International Airport, The Fourth Mainland Bridge, etc. However, amidst all the buzz and rush to this region, there are severe cases of fraudulent land sales. If you’re not careful, you might lose your money by buying land you should avoid.
Firstly, most of the land available in this region do not have proper land titles. The Ibeju-Lekki area has been marked by the government as a growing urban zone and thus, most of the region legally belongs to the government. The common land title is the excision in progress title, which gives you a 50/50 chance of actually OWNING the land. While, A Certificate of Occupancy (C of O) protects you from all these uncertainties, and you’re assured of 100% ownership.

So if you are already planning to own or invest in land, we can help guide to the best deal.
Call us today at 08134960955
You can also chat with us on WhatsApp: 08134960955

Real estate development revolves around prime locations. Almost every aspect of land for sale can be changed except where’s it’s located. Location determines the price of a property.
For instance, you can have identical buildings, one located at Egbeda and the other located at Banana Island. Both houses built using the same materials and design will command different prices. The house located at Banana Island would cost as much as four times more than the house located at Egbeda.

FACTORS TO CONSIDER IN DETERMINING THE RIGHT LOCATION TO BUY PROPERTY
As an investor, you should always consider the present and the future when making investment decisions. For instance, an area that appears to be of enormous financial value now, might not be the case in the next five years or ten years. Just like a disregarded area now might explode in five years. However, there are several determinant factors like the following:
I. Would there be access to basic amenities on the land for sale?
The concept of sustainable development leans toward the availability of constant electricity, water supply, security, and well-paved roads. Look out for areas that have access to water, electricity supply and security. All these are the basis for economic growth without which, sustainable growth may be limited. Long-term real-estate developments are directly associated with and dependent on the availability of these variables.
II. What is the predominant social class in the area?
The value of land for sale is correlated with the social class of people living within the area. Going back to our comparison of Egbeda and Banana Island: Egbeda is predominantly made up of low to middle-class income earners while Banana Island is inhabited by predominantly high-income earners. This social and economic disparity influences the price of both properties. In urban areas, town planning decisions largely depend on ‘who’s’ moving into or living in the area. As minimal as it sounds, it is extremely important to consider who your ‘neighbour’ is when buying land.
III. Is it close to major roads?
Access to the land via paved road is crucial. When it comes to buying land, convenience is everything. Areas located close to a major highway invariably attract sustainable development and thus high ROI on real-estate investments.
IV. What is the official title on the land?
Even if a plot of land possesses all the above factors, if the land for sale doesn’t have a valid land titles, it’s best to avoid the land for sale. There are different land titles and each land title influences the price and ownership status of a property.
For instance, two plots of land located in the same region will command two different prices if they have different land titles. Suppose the first plot of land title is excision in process and the second plot has a C of O. The second plot would likely cost twice and in some cases three times the price of the first land. The reason is, a C of O land title guarantees ownership and secures real-estate investments.
V. What is the ultimate deal for you?
Every once in a while, a fantastic opportunity for real estate investing like the Ibeju-Lekki area presents itself. Ibeju-Lekki has attracted massive industrial investments like the Dangote Refinery, The Deep Seaport, The New International Airport, The Fourth Mainland Bridge, etc. However, amidst all the buzz and rush to this region, there are severe cases of fraudulent land sales. If you’re not careful, you might lose your money by buying land you should avoid.
Firstly, most of the land available in this region do not have proper land titles. The Ibeju-Lekki area has been marked by the government as a growing urban zone and thus, most of the region legally belongs to the government. The common land title is the excision in progress title, which gives you a 50/50 chance of actually OWNING the land. While, A Certificate of Occupancy (C of O) protects you from all these uncertainties, and you’re assured of 100% ownership.

So if you are already planning to own or invest in land, we can help guide to the best deal.
Call us today at 08134960955
You can also chat with us on WhatsApp: 08134960955

Over 20 years ago,The part of the island called Lekki was not always Lekki. It was called Maroko, a slum. Now a lot of people only saw the slum, they didn’t see the potential of Maroko, so they invested in other well-developed areas of Lagos. However, a few visionary people saw the future of Maroko, they saw potential and they invested in Maroko. That was only the beginning, because the government also saw potentials in the area and invested heavily in Maroko. Projects of different magnitude were being commissioned in Maroko, from roads to schools, companies, business outlets, civil servant buildings and even government residential areas.

Within a decade the area had seen so much change that it became Lekki, no longer Maroko. Presently, a plot of land in Lekki is going for 60-80Miliion Naira and above. Remember, the people who invested back then in Maroko probably invested with a few hundreds of thousands, but right now they’re cashing out in Millions, who would have thought?

Time and again such opportunities have presented themselves in the form of undeveloped areas, and investors are seizing the opportunity to create generational wealth. Want to be part of the next big thing? Let’s point you in the right direction. The Lekki-Epe region down to Epe axis have so much potential to transform into something even bigger. In fact, Epe is rightly called “The new Lagos” because of the potential it has.
So let us stop holding back and start making the move that will make us blow BIG TIME.invest in Epe today and cash out as a multi-milloinaire tomorrow .
To get more info on that now contact STOCKLAND HOMES & PROPERTIES on +2348134960955.

Over 20 years ago,The part of the island called Lekki was not always Lekki. It was called Maroko, a slum. Now a lot of people only saw the slum, they didn’t see the potential of Maroko, so they invested in other well-developed areas of Lagos. However, a few visionary people saw the future of Maroko, they saw potential and they invested in Maroko. That was only the beginning, because the government also saw potentials in the area and invested heavily in Maroko. Projects of different magnitude were being commissioned in Maroko, from roads to schools, companies, business outlets, civil servant buildings and even government residential areas.

Within a decade the area had seen so much change that it became Lekki, no longer Maroko. Presently, a plot of land in Lekki is going for 60-80Miliion Naira and above. Remember, the people who invested back then in Maroko probably invested with a few hundreds of thousands, but right now they’re cashing out in Millions, who would have thought?

Time and again such opportunities have presented themselves in the form of undeveloped areas, and investors are seizing the opportunity to create generational wealth. Want to be part of the next big thing? Let’s point you in the right direction. The Lekki-Epe region down to Epe axis have so much potential to transform into something even bigger. In fact, Epe is rightly called “The new Lagos” because of the potential it has.
So let us stop holding back and start making the move that will make us blow BIG TIME.invest in Epe today and cash out as a multi-milloinaire tomorrow .
To get more info on that now contact STOCKLAND HOMES & PROPERTIES on +2348134960955.

Over 20 years ago,The part of the island called Lekki was not always Lekki. It was called Maroko, a slum. Now a lot of people only saw the slum, they didn’t see the potential of Maroko, so they invested in other well-developed areas of Lagos. However, a few visionary people saw the future of Maroko, they saw potential and they invested in Maroko. That was only the beginning, because the government also saw potentials in the area and invested heavily in Maroko. Projects of different magnitude were being commissioned in Maroko, from roads to schools, companies, business outlets, civil servant buildings and even government residential areas.

Within a decade the area had seen so much change that it became Lekki, no longer Maroko. Presently, a plot of land in Lekki is going for 60-80Miliion Naira and above. Remember, the people who invested back then in Maroko probably invested with a few hundreds of thousands, but right now they’re cashing out in Millions, who would have thought?

Time and again such opportunities have presented themselves in the form of undeveloped areas, and investors are seizing the opportunity to create generational wealth. Want to be part of the next big thing? Let’s point you in the right direction. The Lekki-Epe region down to Epe axis have so much potential to transform into something even bigger. In fact, Epe is rightly called “The new Lagos” because of the potential it has.
So let us stop holding back and start making the move that will make us blow BIG TIME.invest in Epe today and cash out as a multi-milloinaire tomorrow .
To get more on this contact STOCKLAND HOMES & PROPERTIES on +2348134960955

thesicilian:
What's the reason? Because Nigerians are not the only foreigners in Dubai. It is better to find out the reason and tackle it instead of being emotional about it

you are absolutely right.thank for this opinion

THINGS TO KNOW BEFORE BUYING A LAND OR PROPERTY IN LAGOS

Buying a house and land in Lagos goes beyond physical inspection and making payments. There are good number of things to look out for and keep in mind when buying land or house Property in Lagos.

1 – Determine and know exactly what you want before going for property search that will yield your desired goals.

2 – After knowing and determining the kind of land or property in Lagos you want to buy, next is to know who is selling that type of property by engaging a real estate & property company or agent and go inspect it.

3 – Next is to properly verify the title documents of the property the seller has.

4 –Then make Payment, Sign Agreement and Collect the Right Documents Related to the Property after proper verification.

5 – Take Possession of your property and Enjoy.

If you find this helpful and you want to get a property,please do comment below and we will share with some appropriate steps and guidelines that will turn your dream property into a reality.thank you.

THINGS TO KNOW BEFORE BUYING A LAND OR PROPERTY IN LAGOS
Buying a house and land in Lagos goes beyond physical inspection and making payments. There are good number of things to look out for and keep in mind when buying land or house Property in Lagos.

1 – Determine and know exactly what you want before going for property search that will yield your desired goals.

2 – After knowing and determining the kind of land or property in Lagos you want to buy, next is to know who is selling that type of property by engaging a real estate & property company or agent and go inspect it.

3 – Next is to properly verify the title documents of the property the seller has.

4 –Then make Payment, Sign Agreement and Collect the Right Documents Related to the Property after proper verification.

5 – Take Possession of your property and Enjoy.

if you find this helpful and want to acqyuire the property you having been dreaming of ,do comment below and we will help guide you to turn your dream into reality on propery matters.

It is no longer news that inflation is currently ravaging Nigeria, affecting all economic sectors of the nation, including the Nigerian real estate sector. With this, experts insist that there is no better time to invest in real estate than now.
However, there is still no better time to invest in real estate than now. This is because any investment in real estate can only appreciate, as real estate never depreciates.
Globally, households are spending over 50% of annual income against the popular 30% rule , to live closer to the city centers.

The global rule regarding rent to income ratio is that rent should usually be 30% or less of income. This means that from an individual’s annual income, the permitted spending on accommodation should be one-third of his or her total income. In a recent research, we were analyzing annual spending on rent across the world and found that the 30% rent guideline is usually not the case. In some places like the UK and US, households spending on rent are closer to 50%, and in Lagos, our research has shown that some households are spending up to 70% of their annual income on rent. This poses some questions of interest, especially when you consider the other costs associated with living and working in Lagos state.
Bringing this home; Surging inflation, uneven urbanization and population increase in Lagos, and other factors, have fueled a hike in Property price in Lagos. Our interaction with a number of Lagos residents suggests that the larger number of the city’s population are barely working to pay rent and transportation. According to a 2016 report by Euromonitor International, average household spend on housing and transport in Lagos was 71% higher than the rest of the other states in the country. Housing alone in Lagos, accounted for over 74% greater household expenditure in 2016 compared to the rest of the country. With the high rate of inflation and surging prices in rents across Lagos, these numbers today are definitely higher than what was reported by Euromonitor in 2016. Cost of construction keeps rising, making it difficult for property prices to fall. With this in mind, how then can the average person reduce the burden associated with renting an apartment? Considering the high cost of rents in Lagos, more than half of Lagos’ population would need to pay as high as 80% of their annual income if they were to get decent accommodation in neighbourhoods close to the city centres.And also the inflation ravaging the country has increase the price of land which has left many middle and low income earners in Nigeria with mentality that owning a land in Nigeria is only for the so called “rich big boys”. This should not be the case. In the following paragraphs, we will be discussing some tips to help you avoid such burdens and make you maximize your income for better household living in Lagos.

HERE ARE 3 WAYS TO MAXIMIZE YOUR INCOME ON YOUR HOUSING IN LAGOS
1. Pick budget-friendly locations and rent only what you need.

The bigger the space and size, potentially the higher your rent. We understand the fantasy of living in luxury homes but your buying power should be the starting point when choosing a property,so it is important that you rent what you need. It is not necessary to have a guest room when you do not have visitors who frequently stay over. Another growing trend that we have found very helpful in reducing your costs is shared apartment options. Outside the security and privacy-related challenges, sharing an apartment can cut your rental spending to almost half and when properly done, are a good cost-saving strategy.
2. Relocation and renovations? Major in the major and minor in the minor.

Yes we get it, some houses are in really terrible forms and it costs a lot to make them habitable but sometimes our renovation costs skyrocket because of our compulsive need for some ‘nice-to-haves. There are expenses on our renovation checklist that if we did a proper cost-benefit analysis, they have no business being there. For example, it may not be necessary and important to paint a newly completed apartment. You may not need to hire a moving company to transport your items to the new house. As much as possible, you can leverage on your network and friends to assist with some relocation needs to cut expenses. A few friends can help you move some items in their cars on a weekend. Someone within can also help you with other minor things that can be very expensive when outsourced. You may consider hiring freelance cleaners as against hiring a janitorial company.
3. Budget your income to own or buy a land in lagos in affordable locations
With the current high inflation ravaging the country economy,now is the best time to own a plot of land due the further future predicted rise of inflation that will adversely affect the real estate sector because land always appreciates in value even in times of economic woes.
Buying land for whatever purpose is indeed a profitable act. However, the level of returns you receive is highly dependent on your understanding of a few factors.
People buy lands for personal housing projects such as building a home; rental or lease purposes; and commercial or industrial use.
But in this case buying land for housing matters a lot.



Buying a home is a powerful decision. It’s no wonder why so many people view it as the best long-term investment, even when inflation is high. When you buy, you help shield yourself from increases in your housing costs and you own an asset that typically gains value with time. If you want to better understand how buying a home could be a great investment for you, comment below or contact STOCKLAND HOMES AND PROPERTY ON +2348134960955.

drmuchin:
U didn't mention Short Let apartment

sorry I didn't expantiate on the open leasing because short let is also part of it

THE 4 STRONG & STABLE HIGH ROI IN REAL ESTATE BIG BOYS IN NIGERIA THAT YOU CAN INVEST IN WITH LITTLE AMOUNT

If you are looking for a way to invest your savings, why not consider real estate? Such investments are always very lucrative. If you are in doubt, just look up any of the wealthiest people in Nigeria, or the world; you will find one form of real estate investment or the other in their portfolio.

Now, we are going to look at how you can make your first investment in real estate for high returns on investment, regardless of the amount of money you want to put in.


Real estate is property comprised of land and any structure(s) or natural resource on it, including water bodies and mineral deposits, as well as any flora or fauna.
Based on its use, real estate can be grouped into three broad categories:

-Industrial properties, e.g. factories and mines.
-Commercial properties, e.g. office buildings, retail store buildings, and warehouses.
-Residential properties, e.g. undeveloped land, condominiums, and private residences.

Investment opportunities in real estate


1. Real Estate Investment Trusts (REITs):
This is one of the easiest ways to make real estate investments without actually acquiring a physical property. REITs are regulated by the Securities and Exchange Commission (SEC). They are a form of collective investment scheme, which pools funds from investors and use them to acquire income-generating real estate.

The portfolio of underlying assets is managed by a professional whose job is to maximize your returns. With REITs, you hold an indirect interest in real estate on a flow-through basis, which means that you hold the property as if it were a direct investment.

REITs are traded on the Nigerian Stock Exchange (NSE). To buy one, you have to go through your stock broker. It’s just like buying or selling shares.

REITs are a solid investment stock that can earn you regular income. The benefits include the following:

-Requires no minimum investment.
-Offers tax advantages.
-It’s a highly liquid way to invest in real estate. You won’t need a realtor to cash out your investment.
-REITs pay high yields in the form of dividends.
-Provides you the opportunity to share in non-residential properties like malls, industries, and hotels.


2. Land flipping/banking
Another great way to invest is to buy land and sell it at a higher price. It is particularly profitable when you buy in a rapidly developing area, in which case you can make up to 300% in profits within a few months, or years, as the case may be.

You can start small by buying just a plot. Or if you have enough capital, buy as much land as you can and keep selling all year round.


While acquiring lands, keep the following in mind:

Buy in areas that are rapidly developing if you want to sell within a couple of months. Some areas are faster than others.
Ensure you obtain all the documents for the land that show you are buying from the legitimate owner. The documents should include a Certificate of Occupancy or a Governor’s consent. Ensure that you don’t get mixed up in land issues. Acquire lands with the appropriate land titles.
Benefits

• Low or zero maintenance costs.
• Ease of sale
• High profits


3. Open space leasing
In this scenario, you buy land in a good location. While you wait for the property value to rise,you can earn monthly fees by leasing the land to people for temporary use. For instance, you can lease it to a church, mechanics or car wash, or other businesses that can construct a makeshift structure that will be easily dismantled when you are ready to sell.

Benefits

• Extra monthly profits before actual land sale, etc.



4. Property development
Property development requires a huge capital investment. It involves acquiring depreciated properties that you can renovate and rent or sell at a very high profit margin. As with any real estate investment, a good location is crucial if you want to make reasonable profits.

Before you go ahead to invest in property development, you have to make sure that the development costs will be far outweighed by the asking price of the property when the renovation is done. So if you spend like 2million naira in renovations, make sure you can sell the property for at least 3 or 4 million naira.
Listed bellow is one of the benefits:

• Earn a higher profit than when you buy and sell undeveloped land.


Investments are essential for wealth creation. It’s not enough to leave your cash in the bank, where you will get negligible monthly interests. Invest in real estate today. It is something you have to do at some point before you retire, if you want to be comfortable financially. Why not give yourself a good head start?


If you want to invest in real estate and need experts guidelines,comment below we will put you through.

THE 4 STRONG & STABLE HIGH ROI IN REAL ESTATE BIG BOYS IN NIGERIA THAT DO YOU CAN INVEST IN WITH LITTLE AMOUNT

If you are looking for a way to invest your savings, why not consider real estate? Such investments are always very lucrative. If you are in doubt, just look up any of the wealthiest people in Nigeria, or the world; you will find one form of real estate investment or the other in their portfolio.

Now, we are going to look at how you can make your first investment in real estate for high returns on investment, regardless of the amount of money you want to put in.


Real estate is property comprised of land and any structure(s) or natural resource on it, including water bodies and mineral deposits, as well as any flora or fauna.
Based on its use, real estate can be grouped into three broad categories:

-Industrial properties, e.g. factories and mines.
-Commercial properties, e.g. office buildings, retail store buildings, and warehouses.
-Residential properties, e.g. undeveloped land, condominiums, and private residences.

Investment opportunities in real estate


1. Real Estate Investment Trusts (REITs):
This is one of the easiest ways to make real estate investments without actually acquiring a physical property. REITs are regulated by the Securities and Exchange Commission (SEC). They are a form of collective investment scheme, which pools funds from investors and use them to acquire income-generating real estate.

The portfolio of underlying assets is managed by a professional whose job is to maximize your returns. With REITs, you hold an indirect interest in real estate on a flow-through basis, which means that you hold the property as if it were a direct investment.

REITs are traded on the Nigerian Stock Exchange (NSE). To buy one, you have to go through your stock broker. It’s just like buying or selling shares.

REITs are a solid investment stock that can earn you regular income. The benefits include the following:

-Requires no minimum investment.
-Offers tax advantages.
-It’s a highly liquid way to invest in real estate. You won’t need a realtor to cash out your investment.
-REITs pay high yields in the form of dividends.
-Provides you the opportunity to share in non-residential properties like malls, industries, and hotels.


2. Land flipping/banking
Another great way to invest is to buy land and sell it at a higher price. It is particularly profitable when you buy in a rapidly developing area, in which case you can make up to 300% in profits within a few months, or years, as the case may be.

You can start small by buying just a plot. Or if you have enough capital, buy as much land as you can and keep selling all year round.


While acquiring lands, keep the following in mind:

Buy in areas that are rapidly developing if you want to sell within a couple of months. Some areas are faster than others.
Ensure you obtain all the documents for the land that show you are buying from the legitimate owner. The documents should include a Certificate of Occupancy or a Governor’s consent. Ensure that you don’t get mixed up in land issues. Acquire lands with the appropriate land titles.
Benefits

• Low or zero maintenance costs.
• Ease of sale
• High profits


3. Open space leasing
In this scenario, you buy land in a good location. While you wait for the property value to rise,you can earn monthly fees by leasing the land to people for temporary use. For instance, you can lease it to a church, mechanics or car wash, or other businesses that can construct a makeshift structure that will be easily dismantled when you are ready to sell.

Benefits

• Extra monthly profits before actual land sale, etc.



4. Property development
Property development requires a huge capital investment. It involves acquiring depreciated properties that you can renovate and rent or sell at a very high profit margin. As with any real estate investment, a good location is crucial if you want to make reasonable profits.

Before you go ahead to invest in property development, you have to make sure that the development costs will be far outweighed by the asking price of the property when the renovation is done. So if you spend like 2million naira in renovations, make sure you can sell the property for at least 3 or 4 million naira.
Listed bellow is one of the benefits:

• Earn a higher profit than when you buy and sell undeveloped land.


Investments are essential for wealth creation. It’s not enough to leave your cash in the bank, where you will get negligible monthly interests. Invest in real estate today. It is something you have to do at some point before you retire, if you want to be comfortable financially. Why not give yourself a good head start?


If you want to invest in real estate and need experts guidelines,comment below we will put you through.

With the current economic realities affecting all sectors, providing affordable housing, particularly for low-income groups has become a daunting task among property developers, which has further compounded the cost of living among Nigerians.

More worrisome is that the population keeps growing and is estimated at approximately 218 million, with a ten-year average growth of about 2.6 percent, according to Nigerian Exchange Group (NGX) figures.

The increasing growth has engendered unprecedented migration of rural dwellers to urban areas, with an urbanization rate of 4.95 percent, putting strain on available housing and other facilities in cities.

Findings revealed that most households spend over 50 percent of their disposable income on housing as the Federal Government struggles to meet housing demand estimated at 22 million.

However, despite housing programs by the Federal, state governments, and private developers, who contribute the highest number of units yearly to the market, an estimated two-thirds of people in cities like Lagos, Port Harcourt, Ibadan, Abuja, and other metropolises still live in informal accommodations, suburbs or slums.

The cost of building materials is taking homeownership far beyond the reach of many, who fall within the low-income segment. For instance, prices of essential building materials like cement, iron rods, roofing sheets; paint, sand, and others rose by over 50 percent in the last two years.

The Guardian housing market survey last week showed that a newly built one-bedroom flat in some locations including suburbs is as high as N500, 000, two bedroom N750, 000 and three bedroom has risen to between N900, 000 and N1million. It requires ingenuity for a young family earning N30, 000 monthly to save N500, 000 within two years to rent a one-bedroom flat.

In places like Abule Egba and Ogudu, a plot of land now goes for N15 million and N80 million respectively, Banana Island from N500 million, in Eko Atlantic City it ranges between N1.2 billion and N1.5 billion.

To build a moderately furnished one-bedroom flat in cities like Abuja and Lagos will cost between N2.5m and N3m aside from the cost of land. The current high rent in cities has driven people to slums and shanties, while others live in dilapidated buildings prone to collapse or quat under bridges or live in uncompleted buildings.

Experts say market forces, foreign exchange crisis, naira devaluation, inflation, lack of finance for homes, unfriendly policy, inaccessibility to land, poor mortgage regime, and demographic changes, make it difficult to increase access to affordable housing for renters and homeownership.

The Managing Partner, RefinHomes Ltd, a property development company, Olatunde Macauley, said affordable housing is a major challenge, which is essentially hinged on the cost of land that is consistently on the increase, the cost of building materials, and issues associated with the financing of projects.

“There are mortgage banks but the mortgages are highly priced at about 19 percent, whereas mortgages should be single digit and long-term spanning about 30 years. Typical mortgages in Nigeria are 10 years and at 19 percent, which is expensive. Very few people have the capacity to afford it,” Macauley said.

However, he said if there are structured payment plans where people can pay a certain amount monthly, more people will be able to afford to house.

Macauley said the government at all levels needs to actively drive affordable housing provision for Nigerians by ensuring an enabling environment for private developers.

He said: “Private sector operators are trying their best but there are difficulties in obtaining building approvals, which is still tedious and could be expensive. We need an environment that will make it easier to acquire land and title from the government.

“The government has to give us incentives to go into low-income housing. Investors are bothered because you invest so much but the returns are so little and so they rather go into medium or luxury apartments.

“There is the National Housing Fund (NHF) at six percent and N15million maximum and 30 years, but access to it is still very difficult, it takes a long time to access. If it were easier, a lot of people would be able to access housing through the platform because it is enabled by the government.”

The immediate past Chairman, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos branch, Dotun Bamigbola, said with high inflation and high exchange rate, the challenge of housing affordability has doubled.

“The minimum wage of N30, 000 is only applicable for the public sector and not all states are paying it. As it varies from state to state, the cost of housing has moved up. Rent and property acquisition costs are going up. If income is not in parity with these, the capacity of any individual to buy houses will be dependent on extra income.”

He said there are disparities in the rental market, from residential to commercial, adding that some people are finding a way out by moving from locations of high rents to lower property value, migrating to other countries and reduction of sizes as a way out.

He added that because of the situation, developers who used to develop bigger apartments are now shifting to smaller apartments/flats.

“To own a home for someone who earns N30, 000, minimum wage, he/she will have to set aside 33per cent of yearly income, which is N9, 900 and N118, 800 per year. To buy a house worth a million, it will take 294 years.”

According to him, at that rate, not everybody can own a house but everybody can be accommodated in a house.

The Chief Operating Officer/Director, Research at NorthCourt Real Estate, Ayo Ibaru, said the current economic situation calls for budgetary adjustments to discretionary spending to meet rent obligations.

The low-income earners, he said, typically bear a disproportionate share of the consequences of Nigeria’s economic difficulties with little disposable income and much less for savings, and investing in property becomes challenging.

“Housing affordability for this income again depends on the location and property features. There is generally a mismatch between desired locations and asset prices. Average prices in the urban areas of Nigeria’s core cities are high – a result of strong demand, which in itself is based on infrastructure, security, and accessibility features. In challenging economic times, these prices further escalate.

“In Nigeria, cooperative societies through the periodic contributions of its members have long been a system for buying ticket items, especially in the informal sector.”

“There are now some initiatives aimed at bringing cooperatives as a tool for homeownership into the mainstream,” he explained.

''The fact still remain that the average nigerians who earns N30000 can not afford a good housing for themselves, so more measures should be taken to curd down this growing problem."

The reality of every day happenings will let you know that you don't need any celebrity figure or statistical research or newspaper to tell and show you that there is high inflation of prices of goods and services, heavy taxing of Government on the masses due high international owed debt,high rate of unemployment, decrease in high valuable jobs, and the continual rise of hardship in the country that is oppressing the people and also which has made a lot of people massively searching for various means of making money in large scale especially online.
Times have changed and those who don't change or upgrade with it suffers the consequences, and a lot of people are either merely managing & surviving in their business and jobs or closing down their business and losing their jobs.The money-power is already increasingly shifting hands from the traditional business& job economy to online skill& scalable business economy.
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Also do well to follow this thread if you find it helpful,I will be your personal sales guide by sharing proven sales techniques to help you boost your sales.

Not making enough sales?
Do you wonder how you can increase your cashflow of your business?

Increasing sales doesn't have to be a difficult thing to do.It about planning and taking necessary actions with the proven strategies and tactics that works for your business environment that will create the greatest return

Your business sales cannot increase until you know how to sell using the time tested and proven sales techniques

Here are basic strategies to boost your business sales
1 Understand your marketplace by knowing what works best in your business terrain
2 Define your Target market or audience by outlining how your product can help the target market you want to serve
3 Craft out a magnetic offer that pulls your customers to buy
4 Place your Advert Where you target market mostly hangout online or offline

Let me know of your own business sales challenge so we can solve it together

Comment below or reach out to me on WhatsApp via 08134960955

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Not making enough sales?
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Increasing sales doesn't have to be a difficult thing to do.It about planning and taking necessary actions with the proven strategies and tactics that works for your business environment that will create the greatest return

Your business sales cannot increase until you know how to sell using the time tested and proven sales techniques

Here are basic strategies to boost your business sales
1 Understand your marketplace by knowing what works best in your business terrain
2 Define your Target market or audience by outlining how your product can help the target market you want to serve
3 Craft out a magnetic offer that pulls your customers to buy
4 Place your Advert Where you target market mostly hangout online or offline

Let me know of your own business sales challenge so we can solve it together

Comment below or reach out to me on WhatsApp via 08134960955

Not making enough sales?
Do you wonder how you can increase your cashflow of your business?

Increasing sales doesn't have to be a difficult thing to do.It about planning and taking necessary actions with the proven strategies and tactics that works for your business environment that will create the greatest return

Your business sales cannot increase until you know how to sell using the time tested and proven sales techniques

Here are basic strategies to boost your business sales
1 Understand your marketplace by knowing what works best in your business terrain
2 Define your Target market or audience by outlining how your product can help the target market you want to serve
3 Craft out a magnetic offer that pulls your customers to buy
4 Place your Advert Where you target market mostly hangout online or offline

Let me know of your own business sales challenge so we can solve it together

Comment below or reach out to me on WhatsApp via 08134960955

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Would you like to increase your business sales by 5 times your current income within 2 week?if you answered yes to this question then Chris Ani will show you the tested and proven secrets strategies to boost your online sales even if you are currently struggling.

Chris Ani is an insightful teacher, author, entrepreneur, startup advisor, cryptocurrency trader and investor.

He is the CEO of Digital Abundance Business Academy Ltd, that passionately uses the internet and emerging technologies to show people how to drive their financial economy to the next level.

He is also the founder of Cryptohub, the first Blockchain and cryptocurrency platform in Nigeria that currently has membership in more than six countries and unique monthly web visitors from over forty countries that is transforming the financial life of many to millionaires.He is passionate about education and enterpreneurship and uses both as tools for alleviating thousands out of poverty to create economic prosperity especially in Africa.

Chris Ani has put together this course for merely surviving or failing business in mind to thrive in this highly competitive business market.Every strategies and tactics taught has been tested and proven by hundreds of business men are today thriving.

In this course,Chris Ani will be show you on how;

You Will trigger and boost your product/service sales by making client-magnetic messages and video

You will be equipped with the four High income generating skillsets that makes you stand on your feet from any financial failures

You will be using the right proven strategies and tools to generate and build up 100-1000 buyers list for your business

You will rapidly grow and increase the cash flow of your product/service using product differentiation

You will be generating organic traffic for your product/service and brand via Social media platforms that engages potential buyers of your product

You will use the secrets behind Donald trump and PlayStation brand and marketing campaigns success

You will know the ultimate packaging techniques for any kind of product or service that attract buyers

You will get added to there online community platforms where you will be guided by business experts along the way for you to succeed.

Procrastinating is the real killer to wealth because what you sow today is what you reap tomorrow

You are just #20,000 away from increasing the chances of having a thriving business.

So there you have guys,the best decision you can make for yourself is taking massive actions towards your desired business financial goals instantly

So what are you waiting for, click the link below to learn more and start generating your desired cashflow.

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